Lin84
01-12-07, 13:18
I was just practicing some questions from the book. I'm slightly confused with question 4.4 on page 133, part e. I thought that the equation was
price x (rate converting to/rate converting from) (same as indices P.36)
So in this case £5 x ($2/$2.50) = £4
But the answers in the book has done it the other way round:
£5 x ($2.50/$2) = £6.25
Could some one please explain this to me please.
Thank you
Lin
price x (rate converting to/rate converting from) (same as indices P.36)
So in this case £5 x ($2/$2.50) = £4
But the answers in the book has done it the other way round:
£5 x ($2.50/$2) = £6.25
Could some one please explain this to me please.
Thank you
Lin